§ 12–902
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 12-902 (2026)
Title 12. Miscellaneous Institutions and Activities
Subtitle 9. Maryland Debt Management Services Act
§ 12–902LinkCopy Citation
This subtitle does not apply to:
(1)
The following persons when engaged in the regular course of their respective businesses and professions:
(i)
An attorney at law;
(ii)
An escrow agent;
(iii)
A certified public accountant;
(iv)
A banking institution, other-state bank, national banking association, credit union, or savings and loan association;
(v)
A person that:
(1)
Provides bill payer services, as defined in § 12-401 of this title;
(2)
Does not initiate any contract with individual creditors of the debtor to compromise a debt or arrange a new payment schedule; and
(3)
Does not provide any debt counseling services;
(vi)
A person that provides accelerated mortgage payment services, as defined in § 12-401 of this title;
(vii)
A title insurer, title insurance agency, or abstract company; or
(viii)
A judicial officer or a person acting under a court order;
(2)
A person while performing services incidental to the dissolution, winding up, or liquidation of a partnership, corporation, or other business enterprise;
(3)
A trade or mercantile association acting in the course of arranging the adjustment of debts with a business establishment; or
(4)
A mortgage lender, as defined in § 11-501 of this article, that:
(i)
Is licensed by the Commissioner; and
(ii)
Does not receive funds from a consumer for the purpose of distributing the funds among the consumer’s creditors in full or partial payment of the consumer’s debts.